Numi (formerly known as Nudy Patooty Inc.)

Michelle Shemilt
Toronto, ON

Visit Numi (formerly known as Nudy Patooty Inc.)

Michelle Shemilt pitching Numi (formerly known as Nudy Patooty Inc.) on Dragons’ Den

The pitch

Michelle Shemilt from Toronto, ON, pitched Numi (formerly known as Nudy Patooty Inc.) in Season 11, Episode 17, asking the Dragons for $100K for 20% of the company.

Asked for$100K for 20%
Valuation$500Kimplied by the ask
OutcomeDealwith Manjit Minhas
Final deal$100K for 25%valued at $400K

Offers in the Den

Dragon	Offer	Result
Joe Mimran	Went out, thought volume and differentiation would be a challenge	Out
Jim Treliving	Went out, encouraged her to build the brand herself before giving up equity	Out
Michele Romanow	$100,000 for 25%	Declined
Michael Wekerle	Went out, deferring to other offers	Out
Manjit Minhas	$100,000 for 30%, later agreed to $100,000 for 25%	Accepted

Michelle Shemilt, from Toronto, Ontario, asked for $100,000 for 20% of Nudy Patooty, a line of undergarments made of bamboo, designed to be worn invisibly under clothing to protect garments from sweat stains and odour while regulating body temperature. The undershirts are made in Canada, cost $12.50 to produce, wholesale for $23 to $29, and retail for $48 to $60. The company was on track for $190,000 in sales for the year, with Michelle Shemilt having invested $100,000 of her own money plus $100,000 in provincial manufacturing grants.

Joe Mimran went out, questioning whether the product was differentiated enough given the required sales volume. Jim Treliving went out, suggesting she build her brand further before giving up equity. Michele Romanow offered $100,000 for 25% equity plus help with manufacturing and retail, but was declined once Manjit Minhas matched with a better offer. Michael Wekerle went out. Manjit Minhas initially offered $100,000 for 30%, then agreed to reduce it to $100,000 for 25%, which Michelle Shemilt accepted.

Pitch details from CBC’s Dragons’ Den pitch page.